Labor announced it would allow first home buyers to purchase homes with a 5 per cent deposit. It also pledged $10 billion to go towards building 100,000 new homes over eight years — exclusively available to first-time buyers — by way of grants to states and territories, and zero-interest loans or equity investments.

The Coalition's policy would see interest payments on mortgages taken out by first-time buyers on newly built homes be tax deductible for five years.

Economists have been quick to give scathing assessments of some of the latest policies, which they argue will drive up demand, and in turn, housing prices. Chris Richardson labelled the major parties' platforms a "dumpster fire of dumb stuff", while Saul Eslake called the Coalition's planned tax deduction "candidate for dumbest policy decision of the 21st century".

But housing experts say the policies are missing the crucial issue driving the housing shortage.

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[–] Whirlybird@aussie.zone -2 points 1 month ago* (last edited 1 month ago) (1 children)

Ah yes, the classic talking points of….checks notes…. saying the conservative partys policies are bad. Interesting take. I’m going to go out on a limb and guess that you disagree that immigration is a factor in the housing crisis, right?

The deductible interest idea is actually a good idea, not just for first home buyers but for all mortgages. It massively helps ease cost of living pressure that is brought on by interest rates on housing. Many countries already do this btw.

Home ownership doesn’t attract obscene tax benefits.

You know what is an absurd tax? Land tax, which you’re advocating for making a standard and increasing.

Let me guess - you think communism works, it just hasn’t been done properly yet?

[–] null_dot@lemmy.dbzer0.com 2 points 1 month ago

I didn't say all conservative policies are bad, I rebutted your assertions.

You don't really seem able to back up anything you're saying. It's all meme level vibe based reasoning.

Tax deductible interest on mortgages would just increase the cost of housing. Dramatically. Well done.

Land tax is well established as broad based with minimal compliance cost.